OTC: May 22, 2016 S&P 500/ SPY: The week saw a possible breakdown averted with so many mixed sectors and news reactions it makes it very hard to discern any one way direction for the overall indexes. The one thing that is clearer that the economy is getting some stronger numbers and hints of rising prices which […]
OTC: May 19, 2016 S&P 500/ SPY: This mornings Walmart WMT earnings sending the stock up over 9% was a lone retail surprise that had traders thinking the downside from yesterdays hawkish fed was played out.That was soon overwhelmed by lower oil and a higher dollar DXY {see chart below} and sent the indexes to […]
OTC: May 18, 2016 S&P 500/ SPY: This is getting testy as this morning’s Target TGT earnings tested the lows and then this afternoon’s Fed oh by the way we will raise rates in June tested and made a new low before coming back to close unchanged. Too many tests of a level causes […]
OTC: May 17, 2016 S&P 500/ SPY: The rally yesterday saw all sectors rise in unison giving the indexes a lot of breathing room away from the big support levels and for the SPY actually start to entertain the idea of testing the highs again.Today its back to the mixed range confusion as traders […]
OTC: May 16, 2016 S&P 500/ SPY: The end of last week closing on the lows gave no hint that today we would have all the major sectors come together and scream higher causing a large up move. The oil USO [see chart below} gets the overall credit for the strength but also the […]
OTC: May 15, 2016 S&P 500/ SPY: The S&P basically unchanged for the year now. Market watchers like to point this out making it sound like there is directionless movement. The traders in individual stocks and certain sectors certainly do not have that feeling. Apple APPL going from 112 to 90 and last week […]
OTC: May 12, 2016 S&P 500/ SPY: Apple AAPL breaking support added to an already nervous market today as the indexes followed thru to the downside after yesterday’s low close. The retailer’s also saw early morning selling once again as Kohls KSS-10% was today’s shopping disaster and after the close Nordstrom JWN dropped a […]
OTC: May 11, 2016 S&P 500/ SPY: Traders who like a reason for why the market moves any given day had none for yesterday’s rally. Today we had one for the downside reversal as the retail sector took a big hit across the board after Macy’s M imploded calling into question the overall strength […]
OTC: May 10, 2016 S&P 500/ SPY: Today we saw all the sectors coming together and rallying giving the market a very strong move up and away from the low made last week. There was no real theme as to why the strength was so pronounced today but after the bears started to call tops […]
OTC: May 9, 2016 S&P 500/ SPY: Earnings season winding down and no economic numbers today shifted the focus on a slowing China as their further stimulus is called into question.This lead to a big commodities sell off with Gold GLD and Silver SLV getting hit along with stocks like FCX -10% which is copper […]